Chinese software provider Kingsoft plans to invest CNY1 billion to build a 96,000-square-meter headquarters and research center in Zhuhai, Guangdong province.

The global financial crisis has hit Chinese PC maker Lenovo and it has announced that it will cut approximately 11% of its total global workforce, while the company expects to report a loss for the fiscal quarter that ended December 31, 2008.

With the financial crisis spreading to more Chinese technology businesses, Taiwan Semiconductor Manufacturing Company has announced plans to implement unpaid holidays from December 2008 to avoid staff cuts.

Flextronics, one of the world's leading electronics manufacturing services providers, will cut 30% of the jobs in its Beijing office in addition to closing its research and development department in Beijing.

According to Chen Weiliang, president of Foxconn International, Foxconn will move its factories from Shenzhen to northern Chinese provinces such as Hebei and Shanxi where the average salary is more than 60% lower than that of Shenzhen, to save costs.